Name the deposit account which allows Overdraft facility. Mention any other feature of that deposit account.
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Overdraft facility is allowed only in current accounts for a short period of time.
Current accounts are those accounts in which there are almost no limits on the numbers of withdrawals.
Generally these accounts offer no interest or a minimum rate of interest.
Overdraft facility helps the businessman to arrange for short term funds in an emergency situation.
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overdraft Facility help the business to arrange for short fund in an emergency situation
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